Poverty and Trade : Glossary

There are 60 documents in this section.

  • Common Agricultural Policy (CAP)

    23 May 2002

    The CAP came into force in 1962, and is a system of rules which regulate the production, trade, and processing of agricultural products in the European Union. It establishes a common market for agricultural products between member states, and protects those products from international competition.

  • Compulsory licensing

    23 May 2002

    A provision within the TRIPS Agreement allowing a government to authorise production of a patented product without the permission of the patent holder, for government purposes such as protecting public health.

  • Dumping

    23 May 2002

    The practice of selling goods in other countries at less than their cost of production. This undermines local production, and deprives the countries in which goods are dumped of foreign-exchange earnings and market share.

  • Export-processing zones

    23 May 2002

    Contained areas of production offering preferential conditions to investors, including infrastructural support, subsidised access to production sites, long tax holidays, and often weaker labour legislation.

  • Flexible labour

    23 May 2002

    Employment which is often short-term or temporary, and which is less secure in terms of social insurance, pensions, and protection. Women's employment is increasingly of this kind. The phrase has become a euphemism for the erosion of workers' basic rights.

  • G8

    23 May 2002

    A grouping of the world's most powerful economies: Canada, France, Germany, Italy, Japan, Russia, the UK, and the US. The original G7 did not include Russia.

  • GATS

    23 May 2002

    General Agreement on Trade and Services. A WTO Agreement, containing specific commitments to liberalise trade in the services sectors, such as banking, tourism, and advertising.

  • GATT

    23 May 2002

    General Agreement on Tariffs and Trade. Agreed by 23 countries in Geneva in 1947, its purpose was to increase international trade by reducing trade barriers. It was replaced when the WTO was established in 1995.

  • Globalisation

    23 May 2002

    The complex network of links between countries and societies in the modern world. The processes (for example in trade, travel, media, and communication and information systems) through which decisions and events in one part of the world can come to have significant consequences for people and communities in other parts of the world.

  • GNP and GDP

    23 May 2002

    GNP is the total value of all goods and services produced by a country in a specified period (usually annually).

    Gross domestic product (GDP) GDP is calculated as GNP less income from foreign investments.